HFF closes $19.25 million sale of and arranges $12.5 million financing for Sabadell Financial Center in Broward County, Florida
MIAMI, FL – April 5, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the $19.25 million sale of and arranged $12.5 million in financing for Sabadell Financial Center, a five-story, 102,007-square-foot, Class A office building in the Broward County community of Plantation, Florida.
HFF marketed the property on behalf of the seller, Clarion Partners, LLC, and procured the buyer, The Green Companies. Clarion Partners acted on behalf of a separately managed account client advised by the firm. Additionally, HFF assisted the new ownership in securing the 10-year, fixed-rate loan through Aegon USA Realty Advisors, LLC.
Sabadell Financial Center is located at 150 South Pine Island Road, just north of Interstate 595, which provides access to all parts of the tri-county area. The 7.3-acre site is equidistant between Miami and West Palm Beach and close to Fort Lauderdale-Hollywood International Airport, Port Everglades and downtown Fort Lauderdale. Extensively renovated from 2012 to 2015, Sabadell Financial Center is 96 percent leased to tenants, including Sabadell United Bank, Quest Workspaces and Ferencik Libanoff Brandt Bustamante & Goldstein, P.A.
The HFF investment sales team representing the seller was led by senior managing director Hermen Rodriguez, director Ike Ojala and associate director Tracey Goo.
HFF’s debt placement team was led by senior managing director Paul Stasaitis and associate Maxx Carney.
The Green Companies negotiating team was led by James Bernstein, Elizabeth Green and George Brown.
About Clarion Partners, LLC
Clarion Partners, an SEC registered investment adviser, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, D.C. With $43.1 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at clarionpartners.com.
About The Green Companies
As one of Miami’s oldest real estate development and management firms, The Green Companies is a “best-in-class” sponsor with a long-term ownership philosophy and has built a reputation throughout the real estate community as one of the area’s most skilled operators and prolific developers of high quality real estate assets. With over 60 years of experience and more than two million square feet of highly successful office and mixed-use projects to their name, including Datran I and II, Dadeland Centre I and II, The Towers of Dadeland and The Greenery Mall.
About Aegon USA Realty Advisors, LLC
Aegon USA Realty Advisors, LLC (AURA) is a U.S.-based real estate asset manager and a member company of Aegon Asset Management, the global investment management division of the Aegon Group. AURA is not a registered investment adviser with the Securities and Exchange Commission.
Holliday Fenoglio Fowler, L.P. (“HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 24 offices and is a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.